Innkeepers Extends Bankruptcy Control Until November
From Bloomberg
Innkeepers Wins Approval to Extend Control Over Bankruptcy Until November
Innkeepers USA Trust won approval to extend control over its bankruptcy amid a dispute with Cerberus Capital Management LP and Chatham Lodging Trust (CLDT) over whether they will buy 64 of its hotels.
The new deadline to file a Chapter 11 plan will be Nov. 10 once a formal order is submitted, U.S. Bankruptcy Judge Shelley Chapman said today in Manhattan. Control over the case had been set to expire Oct. 1. Innkeepers scaled back a request to extend the date to Jan. 19, saying it would revisit the issue Nov. 9 if needed. Click here for the full story.
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